HARARE – Delta Corporation recorded strong volume and revenue growth in the third quarter ended December 31, 2025, buoyed by currency stability, low inflation and firm consumer spending, the beverages maker said in a trading update.
The company said the operating environment during the quarter was “largely conducive”, supported by a stable ZiG exchange rate, improved agricultural performance, increased mining activity and higher diaspora remittances.
Group revenue rose 37 percent for the quarter and 31 percent year-to-date, driven by volume growth across Zimbabwe operations and the consolidation of Schweppes as a subsidiary from April 2025.
More than 85 percent of domestic sales during the period were conducted in foreign currency.
Lager beer volumes grew 16 percent for the quarter and 19 percent for the nine months, exceeding historical sales levels, while sorghum beer volumes rose 21 percent for the quarter amid record daily sales rates.
Sparkling beverages volumes increased 18 percent supported by price moderation and promotions, although the business warned that price adjustments may be required due to the sugar tax and a higher VAT rate.
The Maheu category posted standout growth, with volumes up 99 percent for the quarter following the relaunch of the Shumba Maheu brand, while African Distillers recorded a 64 percent increase in volumes during the festive season-driven quarter.
Regionally, Delta said South Africa showed modest improvement, supported by lower fuel prices and interest rate cuts, while Zambia remained under pressure due to power supply challenges, although gradual recovery signs were emerging.
On tax matters, the group said it was still engaging ZIMRA over additional foreign-currency denominated tax assessments amounting to US$73 million for the period 2019 to 2022. Delta has paid US$14.6 million to date under the “pay now, argue later” principle, with the disputes still pending before the courts.
Looking ahead, Delta said it plans to invest ahead of demand in Zimbabwe, while warning that geopolitical developments and input cost pressures could pose risks to the current growth momentum. – ZimLive
